Legislative Update: JCT description of tax provisions in CARES Act

JCT description of tax provisions in CARES Act

The staff of the Joint Committee on Taxation (JCT) today released a 105-page description of the tax provisions in the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) (Pub. L. No. 116-136) enacted March 27, 2020.


Related content

The JCT report includes a description of the law before the CARES Act, a description of the CARES Act provision, and the effective date.  

Read the JCT description: JCX-12R-20

KPMG observation

Release of the JCT description could be helpful to taxpayers in better understanding tax provisions in the CARES Act, as well as for Treasury as it continues to implement those provisions. 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal